Daily News: October 22, 2014

Gemino Provides Southern Regional Revolver

Gemino Healthcare Finance announced it provided a $25 million secured revolving line of credit to Southern Regional Health System. Proceeds are being used for working capital purposes.

“I am pleased that the Gemino leadership team has worked with us to create a ‘win-win’ scenario in terms of ease of loan administration and positive customer service,” said Jay Hoffman, SVP & CFO for Southern Regional. “We look forward to a longstanding relationship with Gemino over the coming years as we proceed with our business turnaround.

Mark O’Brien, EVP of Business Development and Underwriting for Gemino, said, “We are very excited to close this facility with Southern Regional. Jay Hoffman and his team have done an outstanding job in restructuring their balance sheet and have recently taken some significant steps forward to improve their financial performance. Southern Regional has served Clayton County and south Atlanta for over 40 years and is an essential part of the community. We are pleased to have Southern Regional as the first health system deal in Georgia and they are a significant addition to Gemino’s portfolio.”

Riverdale, GA-based Southern Regional is a licensed 331-bed, full-service hospital that serves residents throughout the region south of Atlanta and has been recognized on the state and national level for the quality of care provided.